So Budget 2006 is out...........
One of the few budgets I have really watched carefully..
But still cant understand what Our gift is trying to do, The whole budget tends to be inspired from Political situation of the country. Looks like UPA govt is trying to cash in the 8% GDP growth India is looking at......
The whole budget was based on the flagship programes of the UPA that focused on
1. North Eastern Region.
2.Education Scheme.
3.Mid day meal scheme
4.Drinking water scheme.
5. National Rural health Mission.
6.Child development services.
7.Rural employment.
and a few more.
No changes in the direct taxes.
Increase in Service Tax.
and small changes in the Custom duty.
Now what I think of the Budget, I really don't understand what the gift of India is doing, or are we still a free nation..
Going through the TOI read that in India 3% of the population pay Income tax while in US its 45% and in France its 56%. I have seen Business people who show there incomes in a couple of lakhs but actually own 3-5 cars , own Bungalows, latest gadgetry and what not.
shop owners do they pay any tax on their incomes. Definitely now we have VAT but that again is directly transferred to the user the salaried class. People sitting in the corridors of power seem to enjoy on the hard earned money of the tax payer.
According to an assessment made by Common cause, an NGO, the cost of running both Houses of Parliament works out to Rs. 17,000 per minute. This amounts to about Rs. 10 lakhs per hour and Rs. 75 lakh per day.
and what is the work done there not even worth Rs 750.
Needless to say about the money which goes into the salaries, telephone bills,Traveling, Security etc of the so called leaders of the nation.
Thousand Crores of rupee go to the salary of the Govt employees and whats the efficency..
Is there any need to write that.
Look at the Jessica Lal Case Police took 7 years to investigate the case and no result.
Infrastructure
1.Power sector had been a monoply of Public sector (although now things are changing) so it is one of the worst performing areas in country.
2.Telecom sector :) its doing great but only after companies like Bharti, Hutch, Tata, Reliance came in to the picture. I still remember when we used to pay 25-30 Rs for a trunk call of 3 min.
When first telephone was installed at our place we distributed sweets and its not long back.
In the time of Indira Govt when a MP raised his voice against the working of DOT he was told that Telephone was not his right and if he was not happy with it he can surrender it.At that time there was a 8 year waiting period for getting a telephone.
3. Roads: Sorry Dont think there is a need to comment on that.
4. Railways: This is the sector , media says the sector has seen a turnaround, Wake up We are talking about the Indian Railways worlds Second biggest Train network. It is a gold mine.
I believe if Railways uses its resources properly and only lends its property for putting add space, Does a dew tie ups with the companies for Catering, Resturants on Railway stations it can earn a lot more than whats it earning today.
We saw 15 trains for Bihar I dont think many people buy tickets there. No problem For our leaders Budget is a Political event Apne jeb se kya jaata hai.
5. Ports: our ports need an investment of over Rs 40000 crores. But that will not fetch votes.
6. Banking Sector: This was the Dravid of the Indian Economy constantly growing after it was opened to the Private sector. But how can this happen. On of the tools used by the banks was to increase the use of plastic money. A transaction done through plastic money , debit card,credit card, ATM costs a fraction of the paper transwaction cost. so What is done is put a 12 % service tax on it.
I believe more the use of plastic money the better plastic money do leave a trail behind.
7.IT. IT the darling of the Indian Economy, the Sachin in making, Hardware costs go up, just when average indian starts buying laptops the price goes up by 4-6 K. Service tax on Software.
what becomes cheap is CoCa CoLa.
One thing which I appreciate is the Decrease in custom duty on cars. Manufacturing sector needs to be looked upon.It has huge potentail to provide jobs.
8.Education: 20,000 scholarships for Muslims , Ours is a secular country, Come on stop this politics Give scholarships to who so ever needs it, Grant to Urdu language, there are many languages in the country why not those. One thing good finally grants to universities in Delhi,Mumbai.Kolkata and Chenai and also Punjab Agriculture University. But what about universities in the smaller cities.
One of the few budgets I have really watched carefully..
But still cant understand what Our gift is trying to do, The whole budget tends to be inspired from Political situation of the country. Looks like UPA govt is trying to cash in the 8% GDP growth India is looking at......
The whole budget was based on the flagship programes of the UPA that focused on
1. North Eastern Region.
2.Education Scheme.
3.Mid day meal scheme
4.Drinking water scheme.
5. National Rural health Mission.
6.Child development services.
7.Rural employment.
and a few more.
No changes in the direct taxes.
Increase in Service Tax.
and small changes in the Custom duty.
Now what I think of the Budget, I really don't understand what the gift of India is doing, or are we still a free nation..
Going through the TOI read that in India 3% of the population pay Income tax while in US its 45% and in France its 56%. I have seen Business people who show there incomes in a couple of lakhs but actually own 3-5 cars , own Bungalows, latest gadgetry and what not.
shop owners do they pay any tax on their incomes. Definitely now we have VAT but that again is directly transferred to the user the salaried class. People sitting in the corridors of power seem to enjoy on the hard earned money of the tax payer.
According to an assessment made by Common cause, an NGO, the cost of running both Houses of Parliament works out to Rs. 17,000 per minute. This amounts to about Rs. 10 lakhs per hour and Rs. 75 lakh per day.
and what is the work done there not even worth Rs 750.
Needless to say about the money which goes into the salaries, telephone bills,Traveling, Security etc of the so called leaders of the nation.
Thousand Crores of rupee go to the salary of the Govt employees and whats the efficency..
Is there any need to write that.
Look at the Jessica Lal Case Police took 7 years to investigate the case and no result.
Infrastructure
1.Power sector had been a monoply of Public sector (although now things are changing) so it is one of the worst performing areas in country.
2.Telecom sector :) its doing great but only after companies like Bharti, Hutch, Tata, Reliance came in to the picture. I still remember when we used to pay 25-30 Rs for a trunk call of 3 min.
When first telephone was installed at our place we distributed sweets and its not long back.
In the time of Indira Govt when a MP raised his voice against the working of DOT he was told that Telephone was not his right and if he was not happy with it he can surrender it.At that time there was a 8 year waiting period for getting a telephone.
3. Roads: Sorry Dont think there is a need to comment on that.
4. Railways: This is the sector , media says the sector has seen a turnaround, Wake up We are talking about the Indian Railways worlds Second biggest Train network. It is a gold mine.
I believe if Railways uses its resources properly and only lends its property for putting add space, Does a dew tie ups with the companies for Catering, Resturants on Railway stations it can earn a lot more than whats it earning today.
We saw 15 trains for Bihar I dont think many people buy tickets there. No problem For our leaders Budget is a Political event Apne jeb se kya jaata hai.
5. Ports: our ports need an investment of over Rs 40000 crores. But that will not fetch votes.
6. Banking Sector: This was the Dravid of the Indian Economy constantly growing after it was opened to the Private sector. But how can this happen. On of the tools used by the banks was to increase the use of plastic money. A transaction done through plastic money , debit card,credit card, ATM costs a fraction of the paper transwaction cost. so What is done is put a 12 % service tax on it.
I believe more the use of plastic money the better plastic money do leave a trail behind.
7.IT. IT the darling of the Indian Economy, the Sachin in making, Hardware costs go up, just when average indian starts buying laptops the price goes up by 4-6 K. Service tax on Software.
what becomes cheap is CoCa CoLa.
One thing which I appreciate is the Decrease in custom duty on cars. Manufacturing sector needs to be looked upon.It has huge potentail to provide jobs.
8.Education: 20,000 scholarships for Muslims , Ours is a secular country, Come on stop this politics Give scholarships to who so ever needs it, Grant to Urdu language, there are many languages in the country why not those. One thing good finally grants to universities in Delhi,Mumbai.Kolkata and Chenai and also Punjab Agriculture University. But what about universities in the smaller cities.
posted by Anurag Khanna at 7:43 AM
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